Wells Fargo & Company MN Has $141,000 Position in Marlin Business Services Corp. (NASDAQ:MRLN)

Wells Fargo & Company MN held its position in shares of Marlin Business Services Corp. (NASDAQ:MRLN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,493 shares of the financial services provider’s stock at the end of the first quarter. Wells Fargo & Company MN’s holdings in Marlin Business Services Corp. were worth $141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRLN. Nationwide Fund Advisors boosted its position in shares of Marlin Business Services Corp. by 47.2% in the first quarter. Nationwide Fund Advisors now owns 17,345 shares of the financial services provider’s stock valued at $447,000 after buying an additional 5,559 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Marlin Business Services Corp. by 31.9% in the first quarter. Russell Investments Group Ltd. now owns 54,781 shares of the financial services provider’s stock valued at $1,410,000 after buying an additional 13,263 shares during the last quarter. State Street Corp raised its stake in shares of Marlin Business Services Corp. by 9.9% in the fourth quarter. State Street Corp now owns 158,713 shares of the financial services provider’s stock valued at $3,315,000 after buying an additional 14,339 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Marlin Business Services Corp. by 27.2% in the fourth quarter. Renaissance Technologies LLC now owns 182,900 shares of the financial services provider’s stock valued at $3,823,000 after buying an additional 39,100 shares during the last quarter. Institutional investors own 77.50% of the company’s stock.

Shares of Marlin Business Services Corp. (NASDAQ MRLN) traded up 2.37% during mid-day trading on Friday, reaching $25.90. The company’s stock had a trading volume of 27,892 shares. Marlin Business Services Corp. has a 1-year low of $17.05 and a 1-year high of $26.70. The company has a market capitalization of $316.45 million, a price-to-earnings ratio of 21.42 and a beta of 1.31. The company’s 50 day moving average price is $25.29 and its 200-day moving average price is $24.98.

Marlin Business Services Corp. announced that its board has initiated a stock repurchase program on Tuesday, May 30th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 3rd. This is a boost from Marlin Business Services Corp.’s previous quarterly dividend of $0.11. Marlin Business Services Corp.’s dividend payout ratio is 46.28%.

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MRLN has been the topic of several research analyst reports. Zacks Investment Research raised Marlin Business Services Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine lowered Marlin Business Services Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, BidaskClub lowered Marlin Business Services Corp. from a “hold” rating to a “sell” rating in a report on Monday, July 24th.

In other Marlin Business Services Corp. news, Director James W. Wert sold 2,980 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $25.42, for a total transaction of $75,751.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Edward Ralph Jr. Dietz sold 3,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $25.01, for a total value of $75,030.00. The disclosure for this sale can be found here. 6.94% of the stock is currently owned by corporate insiders.

Marlin Business Services Corp. Company Profile

Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.

Institutional Ownership by Quarter for Marlin Business Services Corp. (NASDAQ:MRLN)

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